HOA financial management chief Jennifer Hoa said she didn’t blame the chief of the Hoa family’s Hawaiian Life Insurance Company (HLIC) for losing more than $2 million in assets.
“I’m the one who has lost all of my money,” Hoa told ABC News’ “This Week” Sunday.
“We lost everything.
We just have to work through it and hope we can get back together.”HOA’s $3.5 billion loan is due to be paid in the third quarter of the year.
The company, which is owned by Hawaiian Life, said in a statement to ABC News that it is “committed to its long-term mission to provide financial support for the residents of Hilo and beyond.”
The company also said that Hoa, the current president of the Hawaiian Life board, will continue to serve as chairman.
“In the future, the board of directors will continue the leadership roles that were given to Jennifer Hoas,” the statement said.
“While this is a difficult time for our company, we look forward to making a successful transition into a new phase of our life.”
Hoan was previously the CEO of Hawaiian Life until this summer, when she resigned to focus on the health insurance marketplaces created by President Donald Trump.
She said she would continue to work on that role.HOA was founded in 1996 and serves about 7.8 million residents and visitors, and about 7 million employees in Honolulu, Maui, Oahu, Kauai and the Big Island.
The Honolulu Board of Health approved HOA in 2016.
Herald-Advertiser Staff Writer Emily K. Nelson contributed to this report.